Dr CHALMERS (Rankin—Treasurer) (14:33): Thank you to the member for Hume for his question. As the Prime Minister indicated in his answer a moment ago, you have to be very careful about the facts that the shadow Treasurer puts in his questions. The reason why I'm so grateful to the Prime Minister for letting me answer this question is because it gives me an opportunity to correct some of the facts that the shadow Treasurer has been peddling in the last half an hour or so. On the first one: if he wants to talk about homegrown inflation then homegrown inflation is nontradeable, and non-tradeable inflation is lower under us than it was under them. And the same is true of headline inflation. Inflation when we came to office, as the Prime Minister rightly said, was 6.1 per cent. Now it is four per cent in the monthly indicator—and that's too high, we're upfront about that. That is too high, but it is much lower than the inflation that we inherited from those opposite. This answer also gives me the opportunity to point out to the shadow Treasurer that he has now said twice today something which is factually wrong about international comparisons of inflation, and I thought that I would take this opportunity to correct the shadow Treasurer— Mr Taylor interjecting— The SPEAKER: The member for Hume has asked his question. Dr CHALMERS: for making this mistake twice in the last half an hour or so. He said a moment ago in the question to the Prime Minister that core inflation in Canada was going down. Core inflation in Canada is going up. While we're at it, we should tell the shadow Treasurer that core inflation in the euro area is also going up. So that's a reminder. Mr Sukkar interjecting— Dr CHALMERS: Again, the Prime Minister hit the nail on the head a moment ago in his answer—and the Governor of the Reserve Bank, similarly, in the quote that the Prime Minister shared. The governor and the Prime Minister have pointed out that it's not unusual around the world in countries where inflation peaked higher and earlier than it did here in Australia, particularly with these more volatile monthly figures, for the number to bounce around and zigzag on the way down. We saw in the US earlier in the year that inflation went up twice before it started to come down again. As the Governor of the Reserve Bank and the Prime Minister have rightly pointed out, our experience in Australia is not materially different from the kind of experience that we are seeing around the world. Mr Sukkar interjecting— Dr CHALMERS: So, if the shadow Treasurer is unhappy with inflation at four per cent—as are we—he must have been absolutely filthy at the 6.1 per cent that he presided over. He must have been absolutely furious at the performance of his own government, when they bequeathed us inflation at 6.1 per cent. As I said, inflation in the monthly indicator today edged down in monthly terms, but at four per cent annually it is still too high. We want inflation to be lower and sooner, and that's why our cost-of-living relief, which kicks in on Monday, is so important. The SPEAKER: The member for Deakin interjected seven times during that answer. He is now warned. I'd like to hear from the member for Calwell.